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Share Based Awards (Tables)
3 Months Ended
Mar. 31, 2018
Share Based Awards  
Schedule of restricted stock unit activity

 

 

 

 

 

 

 

 

 

Restricted Stock Units

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

Number of

 

Grant Date

 

 

    

Shares

    

Fair Value

 

Unvested, December 31, 2017

 

12,906,030

 

$

4.72

 

Granted

 

3,653,521

 

 

4.64

 

Vested

 

(2,949,189)

 

 

4.89

 

Forfeitures

 

(1,593,415)

 

 

4.41

 

Unvested, March 31, 2018

 

12,016,947

 

$

4.69

 

 

Schedule of stock option activity under the 2008 Plan, 2014 Plan and the Inducement Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

Options Outstanding

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Number of

 

 

 

 

 

 

Average

 

Aggregate

 

 

 

Shares

 

 

 

Weighted-

 

Remaining

 

Intrinsic

 

 

 

Available

 

Number of

 

Average

Contractual

 

Value

 

 

 

for Issuance

 

Shares

    

Exercise Price

    

Term (Years)

    

(In thousands)

  

Balance—December 31, 2017

 

1,859,997

 

7,738,496

 

$

4.34

 

3.96

 

$

4,897

 

Authorized

 

4,860,197

 

 —

 

 

 

 

 

 

 

 

 

Stock options granted

 

(150,000)

 

150,000

 

 

4.75

 

 

 

 

 

 

Issuance of shares under 2017 Bonus Plans

 

(1,974,771)

 

 —

 

 

 

 

 

 

 

 

 

Shares withheld from net settlement of restricted stock units

 

752,564

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units granted

 

(1,678,750)

 

 —

 

 

 

 

 

 

 

 

 

Exercised

 

 —

 

(378,398)

 

 

1.73

 

 

 

 

 

 

Stock options canceled

 

646,451

 

(646,451)

 

 

3.90

 

 

 

 

 

 

Restricted stock units canceled

 

1,593,415

 

 —

 

 

 

 

 

 

 

 

 

Balance—March 31, 2018

 

5,909,103

 

6,863,647

 

$

4.53

 

4.01

 

$

7,922

 

Vested and exercisable—March 31, 2018

 

 

 

6,190,488

 

$

4.51

 

3.61

 

$

7,405

 

Vested and expected to vest(1)—March 31, 2018

 

 

 

6,756,612

 

$

4.53

 

3.94

 

$

7,834

 

 

(1)

Options expected to vest reflect an estimated forfeiture rate.

Schedule of stock-based compensation expense recognized

 

 

 

 

 

 

 

 

 

    

Three Months Ended

    

 

 

March 31, 

 

 

    

2018

    

2017

    

Cost of revenue

 

$

1,382

 

$

701

 

Research and development

 

 

4,767

 

 

2,766

 

Sales and marketing

 

 

2,529

 

 

1,772

 

General and administrative

 

 

2,015

 

 

1,308

 

Total

 

$

10,693

 

$

6,547

 

 

Schedule of weighted-average assumptions to estimate fair value of stock options granted to employees

 

 

 

 

 

 

 

    

Three Months Ended

 

 

 

March 31, 

 

 

 

2018

    

2017

 

Expected dividend yield

 

 

 

Risk-free interest rate

 

2.7%

 

2.1%

 

Expected volatility

 

50%

  

41%

 

Expected life (in years)

 

6.1

 

6.1

 

 

Schedule of assumptions used to calculate the fair value of Employee Stock Purchase Plan awards

 

 

 

 

 

 

    

Three Months Ended

 

 

March 31, 

 

 

2018

    

2017

Expected dividend yield

 

 —

 

 —

Risk-free interest rate

 

2.0%

 

0.9%

Expected volatility

 

52%

 

34%

Expected life (in years)

 

1.3

 

1.3

 

Schedule of unrecognized stock-based compensation expense net of estimated forfeitures

 

 

 

 

 

 

 

 

Unrecognized

 

Remaining

 

 

Stock-based

 

Weighted-Average

 

 

Compensation

 

Recognition

 

 

Expense

 

Period

 

   

(in millions)

   

(in years)

Stock options

 

$

1.0

 

2.6

Restricted stock units

 

 

41.8

 

2.7

ESPP

 

 

0.8

 

0.6

Total

 

$

43.6